M&A: RAPT Therapeutics, Inc.

Form Type: 8-K

Filing Date: 2024-12-23

Corporate Action: Acquisition

Type: New

Accession Number: 000095017024139667

Comments: On December 22, 2024, RAPT Therapeutics, Inc. (the "Company") entered into a License Agreement with Shanghai Jemincare Pharmaceutical Co., Ltd., granting the Company exclusive rights to develop and commercialize Jemincare’s anti-IgE monoclonal antibody JYB1904 in regions excluding the Jemincare Territory. The arrangement involves an upfront payment of $35 million and potential milestone payments of up to $672.5 million, alongside tiered royalty payments ranging from high single-digit to low double-digit percentages on future net sales. The License Agreement includes provisions for terminations and royalties payable over a period beginning from the first commercial sale. On December 23, 2024, the Company also executed a Securities Purchase Agreement for a private placement of shares and warrants, expecting to generate approximately $150 million. Additionally, the Company facilitated an exchange agreement with TCG Funds for the exchange of shares for pre-funded warrants, which also concluded on December 23, 2024. The document outlines projected future milestones, regulatory approvals, and planned uses of proceeds from these agreements.

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